Gold to Outperform U.S. Stocks on Stimulus, Marc Faber Says

(Bloomberg) -- Gold, which climbed to a record today, will outperform U.S. stocks as investors turn to the bullion on further government stimulus spending, said Marc Faber, publisher of the Gloom, Boom & Doom report. The support level for the commodity will now be at $1,000, which was the precious metal’s resistance level previously, Faber said in a Bloomberg Television interview in Singapore today. Immediate-delivery bullion gained as much as $7.10, or 0.6 percent, to $1,148.40 an ounce in London and was at $1,148.20 by 11:25 a.m. local time. “What will continue to happen is that the S&P 500 and the Dow Jones will go down relative to gold,” Faber said. “I think gold will go up more” from its support level.

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